The Netherlands Authority for the Financial Markets (AFM) warns consumers not to accept offers from Dupont Conseille AG and Gulf Oil Exploration Corporation Inc. The AFM has received several reports from consumers that were repeatedly approached by Dupont Conseille AG and Gulf Oil Exploration Corporation Inc with respect to the purchase of shares in Gulf Oil Exploration Corporation Inc. After they have transferred their money for the share purchase, the consumers lose sight of these institutions.

The AFM has established that Dupont Conseille AG does not hold a licence from the AFM or a European passport, issued by another European supervisor, for the provision of investment services and/or performance of investment activities in the Netherlands. In addition, the AFM has not been able to establish that the shares in Gulf Oil Exploration Corporation Inc. that are being offered and sold are real, or whether Gulf Oil Exploration Corporation Inc is a real company.

Dupont Conseille AG has, according to its website, www.dupontconseille.com and its email correspondence, its registered office at the following address: Selnaustrasse 28, Postfach 8021, Zürich – Switzerland.

Gulf Oil Exploration Corporation Inc has, according to its website, www.gulfoilexploration.com and its email correspondence, its registered office at the following address: Two Allen Center 1200 Smith Street, Houston, Texas, 77002, USA. The following telephone number is also mentioned in correspondence: (+1) 713 353 4961.

On 3 February 2010, the Swiss supervisor FINMA placed Dupont Conseille AG on the 'negativliste' (black list) as 'unauthorised institution'.

On the basis of the indications received, the AFM initiated an investigation which has given rise to the strong suspicion that Dupont Conseille AG and Gulf Oil Exploration Inc. are so-called 'boiler rooms'.

‘Boiler room’ is the collective name for fraudulent persons and organisations that deploy crafty salespersons to call potential investors to interest them in investing in worthless and/or fake shares.

The AFM advises consumers, who wish to do business with an institution or person, to check the relevant register on the AFM's website in advance to verify whether the relevant institution or person is registered. The AFM also urgently advises consumers to check the warning lists and press releases at www.afm.nl in advance. Consumers with questions or comments can also contact the Financial Markets Information Line on: 0900-5400 540 (5 eurocents per minute).

The AFM promotes fairness and transparency within financial markets. We are the independent supervisory authority for the savings, lending, investment and insurance markets. The AFM promotes the conscientious provision of financial services to consumers and supervises the honest and efficient operation of the capital markets. Our aim is to improve consumers’ and the business sector’s confidence in the financial markets, both in the Netherlands and abroad. In performing this task the AFM contributes to the prosperity and economic reputation of the Netherlands.